Bank Of America Settles Telemarketing Charges With Missouri For $195,000

Bank of America has agreed to pay the state of Missouri $195,000 to settle allegations that it violated Missouri's telemarketing and telephone solicitation laws. 

The state reached an Assurance of Voluntary Compliance (“AVC”) with Bank of America Corporation as the result of complaints filed by Missouri consumers on the No-Call List who received unwanted telephone calls from Bank of America and third party affiliates.
 
In addition to paying $195,000, the bank has agreed to maintain a comprehensive telemarketing do-not-call program designed to ensure compliance with all applicable Missouri and federal telemarketing and no-call laws. The program also will include:
- designating an employee or employees to coordinate and be accountable for the telemarketing program, and training employees to ensure third-party representatives are aware of the telemarketing and no-call requirements of applicable Missouri and federal law;
- maintaining reasonable safeguards to control risks associated with telemarketing, and maintaining procedures that ensure telemarketing and no-call issues get escalated and reported to an appropriate supervisor in a timely fashion in accordance with the requirements of applicable Missouri and federal law;
- maintaining a program to reasonably monitor employees and telemarketing subcontractors or vendors through appropriate contractual arrangements to comply with applicable Missouri and federal telemarketing and no-call requirements as they currently exist or may be amended in the future; and
- maintaining policies and contractual requirements that subject employees and covered third-party vendors who violate Bank of America's telemarketing and no-call policies and procedures to disciplinary action up to and including termination of employment or contract.